College and credit cards still go together

Credit card companies can no longer look at freshmen like these students moving into Rutgers as fresh meat. (GANNETT NEW JERSEY PHOTO)

Among the new federal laws affecting credit cards is one that will cut down on the number of free squeezie bottles and T-shirts available on college campuses. From now on, applicants under 21 must have a co-signer.

While I generally don’t like any law that treats people who are old enough to vote or fight as children, there’s no doubt that a lot of college students have found themselves in serious credit holes because the application for a credit card came with a free key chain they wanted to score.

Of course, plenty of people over 21 get credit cards and use them foolishly too, so having a co-signer is no guarantee that you will use your card wisely. A better guarantee is having parents who put the fear of God in you about putting those Black Eyed Peas concert tickets you can’t afford on the credit card.